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Economy of Moldova

Economy of Moldova
The International Business Centre Skytower in Chișinău
CurrencyMoldovan leu (MDL)
Calendar year
Trade organisations
WTO, GUAM, CEFTA, BSEC, CISFTA, EAEU (observer)
Country group
Statistics
PopulationDecrease 3.33 million (2024 est)[3]
GDP
  • Increase $17.163 billion (nominal, 2024 est.)[3]
  • Increase $45.023 billion (PPP, 2024 est.)[3]
GDP rank
GDP growth
  • −8.3% (2020) 13.9% (2021)
  • 0.0% (2022e) 2.3% (2023f)[3]
GDP per capita
  • Increase $5,155 (nominal, 2024 est.)[3]
  • Increase $18,367 (PPP, 2024 est.)[3]
GDP per capita rank
GDP by sector
  • 3.7% (2020) 5.1% (2021)
  • 28.5% (2022e) 13.8% (2023f)[3]
Population below poverty line
Negative increase 26.8% (2020)[5]

Positive decrease 1.0% on <$3.20/day (2020f)
  Positive decrease 0.7% on <$3.20/day (2022f)[6]

Positive decrease 14.4% on <$5.50/day (2020f)
  Positive decrease 11.9% on <$5.50/day (2022f)[6]
Negative increase 26.0 low (2019)[7]
Labour force
  • Increase 900.4 thousand (Q2, 2022)[9]
  • Increase 41.3% employment rate (Q2, 2022)[9]
Labour force by occupation
Unemployment
  • Positive decrease 2.4% (Q2, 2022)[9]
  • Positive decrease 21.6 thousand unemployed (Q2, 2022)[9]
Average gross salary
MDL 11,539.1 / €604 / $651 monthly (Q4, 2022)[11]
MDL 9,240.51 / €483 / $521 monthly (Q4, 2022)[12][13][14]
Main industries
Food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles, sugar processing, vegetable oil.[15]
External
Exports
  • Increase $3.144 billion (2021)[16]
  • Decrease $2.467 billion (2020)[16]
  • Increase $2.799 billion (2019)[16]
Export goods
Cereals and cereal-based products; seeds and oleaginous fruits; electrical machines, appliances and parts thereof; vegetable fats and oils − fixed, crude, refined or fractionated; vegetables and fruits; clothing and accessories; furniture and parts thereof; alcoholic and non-alcoholic beverages; yarns, fabrics, textiles and related products; road vehicles; Others.[15][17][18]
Main export partners
Imports
  • Negative increase $7.176 billion (2021)[20]
  • Positive decrease $5.416 billion (2020)[20]
  • Negative increase $5.842 billion (2019)[20]
Import goods
Refined petroleum and oils obtained from bituminous minerals; Medicaments; Motor cars and other motor vehicles, including station wagons and tractors; Insulated wire, cable and other insulated conductors; Optical, photographic, cinematographic instruments and apparatus; Insecticides, rodenticides, herbicides and similar products; Electrical apparatus for switching or protecting electrical circuits (switches, relays, fuses, etc.); Automatic data processing machines; Chemical products; Others.[15][21][22]
Main import partners
FDI stock
  • Increase $4.851 billion (2020 est.)[24]
  • FDI net flux: Decrease $62.45 million (2020 est.)
  • Decrease $ −1.8 billion (2022 est.)[3]
  • Decrease −12.8% of GDP (2022 est.)
  • Positive decrease $8.687 billion (30 June 2022)[25]
  • Positive decrease 60.9% of GDP (2022 est.)
Public finances
  • Negative increase MDL 82.742 billion (30 June 2022)[26]
  • Positive decrease 29.6% of GDP (2022 est.)
  • Decrease MDL −17.219 billion (2022 est.)[3]
  • Decrease −6.19% of GDP (2022 est.)
Revenues
  • Increase MDL 89.610 billion (2022 est.)[3]
  • Increase 32.2% of GDP (2022 est.)
Expenses
  • Negative increase MDL 106.8 billion (2022 est.)[3]
  • Negative increase 38.4% of GDP (2022 est.)
Moody's (2022):[27]
B3
Outlook: Negative
Increase $4.228 billion (30 Sep 2022)[28]

All values, unless otherwise stated, are in US dollars.

The economy of Moldova is an emerging[1] upper-middle income economy,[2] with a high Human Development Index.[15] Moldova is a landlocked Eastern European country, bordered by Ukraine on the East and Romania to the West. It is a former Soviet republic and today a candidate member to the European Union.[29]

  1. ^ a b "World Economic Outlook Database, April 2022. Emerging market and developing economies. Emerging and developing Europe (16 countries)". IMF.org. International Monetary Fund. Retrieved 16 August 2022.
  2. ^ a b "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 16 August 2022.
  3. ^ a b c d e f g h i j k "World Economic Outlook Database, October 2022. Moldova". IMF.org. International Monetary Fund. Retrieved 22 December 2023.
  4. ^ "Moldova: Distribution of gross domestic product (GDP) across economic sectors from 2011 to 2022". statista.com. Statista. Sep 8, 2022. Retrieved Mar 28, 2024. In 2021, agriculture contributed around 10.39 percent to the GDP of Moldova, 20.61 percent came from the industry and 54.85 percent from the services sector.
  5. ^ "Poverty headcount ratio at national poverty lines (% of population)". World Bank. Retrieved 16 August 2022.
  6. ^ a b Europe Central Asia Economic Update, Spring 2020 : Fighting COVID-19. World Bank. 9 April 2020. pp. 59, 60. ISBN 9781464815645. Retrieved 16 August 2022. {{cite book}}: |website= ignored (help)
  7. ^ "Gini index - Moldova". data.worldbank.org. World Bank. Retrieved 16 August 2022.
  8. ^ a b "Human Development Reports: Moldova (Republic of)". Human Development Reports. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 13 September 2022.
  9. ^ a b c d "Biroul Național de Statistică al Republicii Moldova. Forţa de muncă". statistica.gov.md (in Romanian). National Bureau of Statistics of the Republic of Moldova. Retrieved 15 Oct 2022.
  10. ^ "Forța de muncă în Republica Moldova: ocuparea și șomajul în trimestrul II 2022". statistica.gov.md (in Romanian). National Bureau of Statistics of the Republic of Moldova. 2 Sep 2022. Retrieved 15 Oct 2022.[permanent dead link]
  11. ^ "Banca de date statistice Moldova / Câştigul salarial mediu lunar brut". statbank.statistica.md (in Romanian). National Bureau of Statistics of the Republic of Moldova. Retrieved 18 May 2023.
  12. ^ "Calculator salarii brut – net – total 2022". Salarii.md (in Romanian). Retrieved 18 May 2023.
  13. ^ "9,240 MDL to EUR - Convert Moldovan Lei to Euros". WorldForexRates. 2023-05-18.
  14. ^ "9,240 MDL to USD - Convert Moldovan Lei to US Dollars". WorldForexRates. 2023-05-18.
  15. ^ a b c d "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 16 August 2022.
  16. ^ a b c "Exporturile Republicii Moldova, structurate pe tari si grupe de tari, 1997-2021". statbank.statistica.md (in Romanian). National Bureau of Statistics of the Republic of Moldova. Retrieved 16 August 2022.
  17. ^ "Republica Moldova, tot mai legată de exporturile mărfurilor în UE. România e destinație principală, Rusia în scădere abruptă". G4 Media (in Romanian). 17 May 2022. Retrieved 17 August 2022.
  18. ^ "What does Moldova export? (2020)". oec.world. The Observatory of Economic Complexity. Retrieved 17 August 2022.
  19. ^ "Where does Moldova export to? (2021)". oec.world. OEC - The Observatory of Economic Complexity. Retrieved 14 April 2023.
  20. ^ a b c "Importurile Republicii Moldova, structurate pe tari si grupe de tari, 1997-2021". statbank.statistica.md (in Romanian). National Bureau of Statistics of the Republic of Moldova. Retrieved 17 August 2022.
  21. ^ "Moldova. Imports and Exports. World−ALL COMMODITIES−Value (US$) and Value Growth, YoY (%). 2009 - 2020". trendeconomy.com. TrendEconomy. Retrieved 17 August 2022.
  22. ^ "What does Moldova import? (2020)". oec.world. The Observatory of Economic Complexity. Retrieved 17 August 2022.
  23. ^ "Where does Moldova import from? (2021)". oec.world. OEC - The Observatory of Economic Complexity. Retrieved 14 April 2023.
  24. ^ "Investiţiile străine directe: Impactul asupra economiei Republicii Moldova. 2021 report, p. 15" (PDF). fia.md (in Romanian). Foreign Investors Association. Retrieved 17 August 2022.
  25. ^ "External debt / Datoria externă la sfârșitul trimestrului II 2022 (date provizorii)". bnm.md (in Romanian). National Bank of Moldova. 30 Sep 2022. Retrieved 15 Oct 2022. Conform datelor preliminare, datoria externă brută a Republicii Moldova s-a diminuat neesențial pe parcursul trimestrului II 2022, cu 0,9 la sută și a totalizat 8 687,24 mil. USD la 30.06.2022, ceea ce constituie 60,9 la sută raportat la PIB (-3,2 p.p. față de 31.12.2021).
  26. ^ "RAPORT privind situaţia în domeniul datoriei sectorului public, garanţiilor de stat şi recreditării de stat în semestrul I al anului 2022" (PDF). mf.gov.md (in Romanian). Ministry of Finance (Moldova). p. 4. Retrieved 15 Oct 2022. Drept urmare a analizei privind evoluția datoriei sectorului public, se atestă o creșterea soldului acesteia cu 1,1% la situația din 30 iunie 2022 comparativ cu sfârșitul anului 2021, constituind 82 742,2 mil. lei sau 29,6% din PIB-ul prognozat pentru anul 2022. Ca pondere în PIB, datoria sectorului public s-a micșorat cu 4,2 p.p. comparativ cu situația de la finele anului 2021.
  27. ^ "Moldova: Sovereign credit ratings (measure: Sovereign credit rating, source: Standard & Poor's, Moody's, Fitch, and Scope)". theglobaleconomy.com. The Global Economy. April 2022. Retrieved 18 August 2022.
  28. ^ "Report : Official reserve assets and other foreign currency assets". bnm.md. National Bank of Moldova. Retrieved 15 Oct 2022.
  29. ^ "EU awards Ukraine and Moldova candidate status". BBC News. 2022-06-23. Retrieved 2022-08-16.

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